Intelligent Power Module Market Size, Share, Growth, Forecast 2030

The global intelligent power module market size was worth around USD 1598.36 million in 2022 and is predicted to grow to around USD 3012.60 million by 2030 with a compound annual growth rate (CAGR) of roughly 8.28% between 2023 and 2030.

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Global Intelligent Power Module Market: Overview

Intelligent power module is a consolidated high performance modules which comprise of a control unit and a drive circuit. This offers greater output with the help of an IGBT (insulated gate bipolar transistor) chip. This intelligent power module also offers a custom consolidated circuit for the execution of self-safety and protection operations including over temperature, supply under voltage, and supply under voltage. A highly integrated gadget, the intelligent power module contains the entire high voltage command through 3 phase power to HV-DC (high voltage direct current) within just one module.

Global Intelligent Power Module Market: Growth Factors

The refurbishment activities around the existing power infrastructure across the developing economies have led to a spike in the demand for intelligent power modules. The industry share is expected to multiply with the continuously spiraling demand for power that has been exerting pressure on the power supply resources. As governments of countries including Germany, India, US, and Japan have been gravitating toward indigenous energy sources, the global intelligent power module market share will reap the benefits. These governments have been proactively encouraging adoption of solar and other renewable energy resources through formulation of advantageous policies for end-users. The growing number of photovoltaic projects as well as offshore and onshore wind farms will potentially advance the pace of the intelligent power module market globally.

Additionally, the spiraling demand for electric vehicles (EVs) and battery-operated electric vehicles (BEVs) has been pushing the global intelligent power module market growth. The high rate of adoption of these vehicles is due to the escalating concerns regarding environmental safety and greenhouse gas emissions. Since these modules conserve power and save space due to their compactness, numerous manufacturers of automobiles have been deploying them in their product ranges.

The slow penetration of advanced technologies such as IPM can inhibit market advancement. However, the escalating needs for consumer electronics has paved the way for reinforcing energy efficiency, creating a considerable scope for the development of the global intelligent power module market.

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Global Intelligent Power Module Market: Segmentation

The global intelligent power module market can be differentiated by voltage rating, by current rating, by power devices, by application, and by region. In terms of voltage rating, the market can be bifurcated into up to 600 V, 1200 V, and above 1200 V. Based on current rating, the global intelligent power module market is segregated into up to 20 A, 20 A - 100 A, and more than 100 A.

The global intelligent power module market, by power devices, has been divided into MOSFET (metal oxide semiconductor field effect transistor) and IGBT (insulated-gate bipolar transistor). In terms of application, the global intelligent power module market can be classified as industrial, automotive, consumer electronics, transportation, servo drivers, UPS, and renewable energy.

Intelligent Power Module Market : Report Scope

Global Intelligent Power Module Market: Competitive Players

A few of the market players competing in the global intelligent power module market comprise Fuji Electric Co. Ltd., Infineon Technologies AG, Mitsubishi Electric Corporation, Powerex Inc., ROHM Co., Sensitron Semiconductor, STMicroelectrics N.V., Semikron, TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION, CISSOID, Future Electronics, Microsemi, On Semiconductor Corporation, Renesas Electronics Corporation, Sanken Electric Co., Ltd., silentknight (Honeywell), Vincotech GmbH, and Texas Instruments Incorporated.

Global Intelligent Power Module Market: Regional Analysis

The intelligent power module market in Asia Pacific is poised to exhibit higher growth rates over the forecast timeframe because multiple international companies have established their manufacturing facilities in the developing countries which include India and China. The high consumption rate of consumer electronics including refrigerators, PC power supply units (PSUs), air conditioning inverters, electric pumps, and power motors has been generating more and more demand for intelligent power module in Asia Pacific.

North America is projected to contribute significantly towards the global intelligent power module market share owing to the widespread utilization of these devices across HVAC, pumps, elevators, and compressors in the industrial sector. According to the International Council on Clean Transportation, Canada accounted for over forty thousand sales of electric vehicles during 2018 and is representative of the 8th largest industry for EVs. The U.S. federal government has been implementing ZEV regulations and incentives for reducing carbon-dioxide emissions. The region also promises further growth opportunities as zero-emission trucks are likely to emerge in the upcoming times.

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Europe intelligent power module market will thrive owing to the emergence of new technologies such as Insulated Gate Bipolar Transistors (IGBT). Several manufacturers in the region have been outperforming through their easy-to-implement, highly integrated, and cost-effective solutions.

Moreover, 44 percent of world’s biggest markets are located across the U.S., Europe, China, and Japan.

The global intelligent power module market is segmented as follows:

By Voltage Rating

• 600 V
• 1200 V
• above 1200 V

By Current Rating

• 20 A
• 20 A - 100 A
• more than 100 A

By Power Devices

• MOSFET (metal oxide semiconductor field effect transistor)
• IGBT (insulated-gate bipolar transistor)

By Application

• Industrial
• Automotive
• Consumer Electronics
• Transportation
• Servo Drivers
• UPS
• Renewable Energy

Global Intelligent Power Module Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.